Press release
Aerial Work Platform Truck Market will grow at 16.50% CAGR by 2022 key players like Bronto Skylift Oy Ab, Tadano Limited, HUNAN RUNSHARE HEAVY INDUSTRY CO., Aichi Corporation, Teupen USA, Inc
Global aerial work platform (AWP) truck market was valued at over USD 2 billion. The increasing demand across the telecommunication industry, particularly in Taiwan, Brazil, Indonesia, India and China is anticipated to boost the development of the industry in the upcoming years. Increasing maintenance and repair activities in developed nations like North America and Europe may additionally boost the development of the aerial work platform truck market. Increasing investment by the government and rapid advancement in the infrastructure combined with developing private interest in the real-estate segment; especially in Asia Pacific is additionally assessed to raise demand throughout the following couple of years.
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The business is poised for development due to rising requirement for material handling hardware in production units and industrial facilities combined with developing concerns in regards to safety of workers.
Product Outlook and Trend Analysis
Aerial work platform truck items for the most part involve boom lifts, personal portable lifts, scissor lifts and vertical mast lifts. Boom lifts are expected to display high development and record for most of the part of the overall industry throughout the following couple of years. In 2014, vertical mast lifts and scissor lifts represented more than 45% of the worldwide aerial work platform truck industry. Expanding demand in maintenance and establishment applications may boost scissor lifts demand throughout the following couple of years. Furthermore, operational advantages offered by scissor lifts, for example, moving ability in tight spaces may likewise boost item demand substantially.
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End-Use Outlook and Trend Analysis
The end-use segments comprise transport & logistics, telecommunication, construction and government sectors. The construction division is relied upon to hold larger part of the overall industry and in addition develop significantly attributable to expanding government and private investment in the real-estate section and infrastructure improvement. Developing concerns with respect to worker safety is likewise expected to fuel item demand in this segment. The telecommunication segment is anticipated to display high infiltration and development over the figure time frame. This might be ascribed to a surge in requirement especially for pertinent infrastructure over the telecommunication area fundamentally in emerging nations, for example, India, China and Brazil. The transport & logistics industry is also anticipated to encounter significant development due to rising requirement for material handling in production units.
Regional Outlook and Trend Analysis
Asia Pacific Aerial work platform truck market is anticipated to reflect high development by virtue of developing infrastructure and substantial investments, both in the business and household division. Smartphone procreation and the related requirement for enhanced telecom foundation may emphatically affect the business demand over the conjecture time frame. North America and Europe aerial work platform truck markets are foreseen to witness noteworthy development attributable to different up-degrees and remodel exercises in these locales. The stringent administrative situation in these regions relating to safety standards may boost product request. Latin America and MEA may likewise witness an upsurge in requirement, which might be ascribed to changing administrative situation and ascend in government investment for infrastructure improvement. Also, developing number of substantial construction activities particularly in Middle-east nations is expected to spur item demand over the upcoming years.
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Competitive Insights
The aerial work platform truck market is dominated by Bronto Skylift Oy Ab, Tadano Limited, HUNAN RUNSHARE HEAVY INDUSTRY CO., Aichi Corporation, Teupen USA, Inc., RUTHMANN GmbH & Co, Terex and Altec Inc. Advancement and new item separation to serve distinctive application sections may emerge as a key development methodology. Mergers and acquisitions likewise shape a part of center business technique. Industry members compete in terms of new item advancement, evaluating and upgraded dispersion platforms in their offer to pick up favorable position. Several producers and vendors focus on creating boom-supported and low-weight elevating aerial platforms that meet the end-client prerequisites adequately. Further, organizations concentrate on automating fabricating process in order to upgrade item quality and dependability. Organizations likewise stress on joint endeavors and associations for fortifying worldwide impression. Moreover, mergers and acquisitions are likewise observed as a basic part of development technique and business extension by leading merchants.
The global aerial work platform market is segmented as follows-
By Product:
Scissor Lifts
Boom Lifts
Vertical Mast Lifts
Personnel Portable Lifts
By Application:
Telecommunication
Government
Construction
Transport & Logistics
Other Applications
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